The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
'There is so much talent in the country and cannot play on reputation.'
Retirement fund body EPFO on Thursday lowered the interest rate on Provident Fund deposits to 8.5 per cent for the current financial year, Labour Minister Santosh Gangwar said on Thursday.
Pacer Matheesha Pathirana starred with the ball as Chennai Super Kings eased to an emphatic six-wicket victory against Mumbai Indians.
With his appointment as AG, the many constitutional law matters that are pending before the Supreme Court will receive specialised attention.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The report, released a little over a year after the deadly crash of the Air India Express plane, said the "probable cause of the accident was the non adherence to SOP (Standard Operating Procedure) by the PF (Pilot Flying)".
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
Tax Guru Anil Rego answers your personal income tax queries.
The government has found about 900,000 beneficiaries of its flagship job formalisation scheme, the PMRPY, were ineligible in the first place as they were part of the formal economy even before the inception of the scheme. The EPFO has also recovered Rs 222 crore so far from the employers concerned.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
The Employees' Provident Fund Office in Chennai said it intends to attach the properties of the promoters of struggling retail chain Subhiksha to meet provident fund dues for around 4,500 employees in and around the city.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
US media reports that Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, could be the latest technology giant to downsize its workforce have triggered trepidation among its 300-400 employees in India, according to people familiar with the matter. "We have not heard much about the impact (of downsizing) on India. "It's a wait-and-watch situation. Certainly, there is uncertainty," said a source.
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
Religious institutions and charitable trusts employing 20 workers or more will have to deposit employees' provident fund with the EPFO.
In a discussion paper, the Department of Industrial Policy and Promotion has suggested creation of new service entities to which most of the statutory compliances, under the labour laws for small and medium enterprises, can be outsourced.
Three Rashtriya Swayamsevak Sangh workers have been arrested for allegedly carrying out the murder of a Popular Front of India leader in Palakkad district of Kerala on April 15, the police said on Tuesday, and added that the trio were friends of an RSS leader who was killed in Palakkad in November last year.
The Employment Provident Fund Office may introduce social security number (SSN), a unique 14-digit identity number for all provident fund subscribers, in West Bengal within this year.
Since the bankcuptcy law came into effect from December 2016, with every quarter, the recovery rate has progressively been going down, notes Tamal Bandyopadhyay.
With the new facility, settling PF withdrawal claims would just take few hours.
Under the proposed scheme, there will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
There are differences between the ministries of labour and finance on the issue.
The city police commissioner has promulgated prohibitory orders under Section 144 of Code of Criminal Procedure in the limits of Bengaluru city till the midnight of April 22.
At least two Karnataka State Road Transport Corporation buses and one of Bengaluru Metropolitan Transport Corporation have been set on fire, they said.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
Taxing the existing retirement benefits schemes would affect the working class, the labour ministry said.
Retirement fund body EPFO will provide permanent or universal account numbers on the pattern of core banking services to its over 5 crore active subscribers.
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The Finance Audit and Investment committee recommended 8.95% interest.
Once in place, the new system is expected to benefit around 60 million workers covered under EPFO.
Richardson and Cruddas Limited, Khatau Makani Spinning and Weaving Mill, and Mafatlal Industries were among the 10 top defaulting establishments in Maharashtra who had failed to pay up their contribution to the Employees Provident Fund Scheme.
